DELAWARE LIFE PRODUCER EXAM 2025 |150 QUESTIONS
AND VERIFIED ACCURATE SOLUTIONS
1. Describe the purpose of the guaranteed insurability rider in life insurance
policies.
The rider ensures that the policy remains active despite missed
payments.
The rider allows for premium reductions based on age.
The rider provides a guaranteed death benefit regardless of health
changes.
The guaranteed insurability rider allows policyholders to
increase their coverage without undergoing medical
underwriting at specified times.
2. If an insured has a 10-year level term life policy, what will happen at the
end of the term?
The insured must provide evidence of insurability to renew the
policy
The insured may renew the policy for another 10 years at the same
premium rate
The insured may only convert the policy to another term policy
The insured may renew the policy for another 10 years but at a
higher premium rate
3. If a policyholder decides to convert their term life insurance policy to a
permanent policy, what factors should they consider regarding the death
benefit?
The death benefit will be eliminated upon conversion to a
permanent policy.
The death benefit will automatically double upon conversion
,regardless of the policy terms.
, The death benefit will remain the same as the term policy without
any adjustments.
The policyholder should consider that the death benefit of the
new permanent policy may be higher than the term policy, but
they need to check if any reductions apply based on the terms
of conversion.
4. Who offers any advice, counsel, opinion, or service with respect to the
benefits, advantages, or disadvantages under any insurance policy?
Insurance consultant
Insurance broker
Insurance solicitor
Insurance counselor
5. What is required for a Universal Life policy to remain active if the
premium is not paid?
a minimum payment of 50% of the premium
sufficient cash value to cover the cost of the insurance
the policyowner's age must be under 65
a written notice to the insurer
6. What is a level term contract?
A form of term insurance in which the face amount does not
change over time
A form of term insurance in which the face amount changes over
time
A form of term insurance in which the amount changes based off
of fluctuations in the LIBOR
, 7. What is the term used for the option where policy dividends are used to
increase the death benefit in a life insurance policy?
Cash value accumulation
Term insurance
Group insurance coverage
Paid-up additions
8. What is a requirement for a beneficiary designation in a life insurance
policy?
The beneficiary must be a family member of the insured.
The beneficiary can be anyone regardless of insurable interest.
The beneficiary must be a legal entity.
The beneficiary must have insurable interest in the insured.
9. All of the following are the types of term insurance depending on how
the face amount changes during the policy term except?
Decreasing
Renewable
Level
Increasing
10. If a policyholder chooses a level term insurance policy with a face
amount of $500,000, how would the payout change if the policyholder
dies after 10 years?
The payout would remain $500,000 regardless of when the
policyholder dies within the term.
The payout would increase to $600,000 after 10 years.
AND VERIFIED ACCURATE SOLUTIONS
1. Describe the purpose of the guaranteed insurability rider in life insurance
policies.
The rider ensures that the policy remains active despite missed
payments.
The rider allows for premium reductions based on age.
The rider provides a guaranteed death benefit regardless of health
changes.
The guaranteed insurability rider allows policyholders to
increase their coverage without undergoing medical
underwriting at specified times.
2. If an insured has a 10-year level term life policy, what will happen at the
end of the term?
The insured must provide evidence of insurability to renew the
policy
The insured may renew the policy for another 10 years at the same
premium rate
The insured may only convert the policy to another term policy
The insured may renew the policy for another 10 years but at a
higher premium rate
3. If a policyholder decides to convert their term life insurance policy to a
permanent policy, what factors should they consider regarding the death
benefit?
The death benefit will be eliminated upon conversion to a
permanent policy.
The death benefit will automatically double upon conversion
,regardless of the policy terms.
, The death benefit will remain the same as the term policy without
any adjustments.
The policyholder should consider that the death benefit of the
new permanent policy may be higher than the term policy, but
they need to check if any reductions apply based on the terms
of conversion.
4. Who offers any advice, counsel, opinion, or service with respect to the
benefits, advantages, or disadvantages under any insurance policy?
Insurance consultant
Insurance broker
Insurance solicitor
Insurance counselor
5. What is required for a Universal Life policy to remain active if the
premium is not paid?
a minimum payment of 50% of the premium
sufficient cash value to cover the cost of the insurance
the policyowner's age must be under 65
a written notice to the insurer
6. What is a level term contract?
A form of term insurance in which the face amount does not
change over time
A form of term insurance in which the face amount changes over
time
A form of term insurance in which the amount changes based off
of fluctuations in the LIBOR
, 7. What is the term used for the option where policy dividends are used to
increase the death benefit in a life insurance policy?
Cash value accumulation
Term insurance
Group insurance coverage
Paid-up additions
8. What is a requirement for a beneficiary designation in a life insurance
policy?
The beneficiary must be a family member of the insured.
The beneficiary can be anyone regardless of insurable interest.
The beneficiary must be a legal entity.
The beneficiary must have insurable interest in the insured.
9. All of the following are the types of term insurance depending on how
the face amount changes during the policy term except?
Decreasing
Renewable
Level
Increasing
10. If a policyholder chooses a level term insurance policy with a face
amount of $500,000, how would the payout change if the policyholder
dies after 10 years?
The payout would remain $500,000 regardless of when the
policyholder dies within the term.
The payout would increase to $600,000 after 10 years.
